report as on 19/03/2010 gold & silver & crude

Gold closed higher on Thursday as it extends this week's rally above the 10-day moving average. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, this month's high crossing is the next upside target. Closes below last Friday's low crossing would temper the near-term bullish outlook in the market.

 Silver closed lower due to profit taking on Thursday as it consolidates some of this week's rally. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it renews the rally off February's low, the 75% retracement level of the aforementioned decline crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

Crude Oil closed lower due to profit taking on Thursday as it consolidates some of Wednesday's rally. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If it renews the rally off February's low, January's high crossing is the next upside target. Closes below Monday's low crossing would confirm that a short-term top has been posted.